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This is Bloomberg surveillance.

So much of what's going on right now is financial engineering.

It's issuing really, really low-cost debt.

It's buying back shares. I think less will continue to be more lower

coupon, better quality issues, will continue to outperform the big yielders.

Now we're getting worried if stocks tumble 7 or 8% year to date.

We're just more easily alarmed than we used to be for some reason.

Bloomberg surveillance, your link to the world of economics, finance and investment on Bloomberg Radio.

Good morning I'm Michael McKee. It is 7 a.m. on Wall Street, noon in the city where

London currency traders are very happy it is time to get out from under their

desks and go out to get something to eat. The pound a falling knife this morning

on Brexit concerns right now the pound down more than 2% Tom after Boris Johnson

the mayor of London Lord Mayor I guess they call him came out and said he

would campaign for leaving the

...